UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry bod said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong commence, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The largest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a contorted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry figure said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong commence, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a contorted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry bod said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a twisted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry bod said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong embark, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The largest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a contorted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry figure said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The thickest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures showcase private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry bod said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a twisted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures demonstrate private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry figure said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong commence, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The thickest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “coerced on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures showcase private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry assets said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “coerced on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry assets said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong embark, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The thickest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures showcase private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry bod said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enlargened sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong commence, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “coerced on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry figure said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The thickest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures showcase private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry assets said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong embark, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The largest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Trio.3% on 2015.
But according to one car dealer the high sales figures present a crooked picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “coerced on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures display private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instant future and that would eliminate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty-nine million cars were registered last year, 2% higher than in 2015.
The industry assets said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an exceptionally high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell across most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrical hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrical in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a twisted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures demonstrate private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enlargened prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned however that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
UK car sales at record high in two thousand sixteen – Big black cock News
UK car sales at record high in 2016
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The number of fresh cars sold in the UK hit an all-time high in 2016.
The Society of Motor Manufacturers and Traders (SMMT), said Two.Sixty nine million cars were registered last year, 2% higher than in 2015.
The industry figure said 2016’s growth was due to “very strong” consumer confidence, low-interest finance deals and the launch of several fresh models.
However, the SMMT says this year is unlikely to set another record, with sales expected to fall by 5-6%.
SMMT chief executive Mike Hawes said such a fall would not represent “a collapse in the market” and sales would still be at “historically an amazingly high level”.
He said that five consecutive years of enhanced sales had been fuelled by pent-up request that developed during the recession of the late 2000s.
Analysis: John Moylan, Industry correspondent
The record level of registrations in two thousand sixteen doesn’t tell the entire story. Overall it was fleet buyers that propelled the market to fresh highs.
Sales to consumers suggest a very different story.
After a strong begin, private car sales fell via most of the year. December’s Five.5% fall year on year was the ninth monthly decline in a row.
With claims that the fresh car market is saturated, higher prices coming on forecourts and economic uncertainty ahead, the industry’s forecast of a 5% fall in the market this year could prove optimistic.
The SMMT added that the UK fresh car market was one of the most diverse in the world, with some forty four brands suggesting almost four hundred different model types.
The fattest selling model was the Ford Fiesta, followed by the Vauxhall Corsa and Ford Concentrate.
The SMMT said diesel and petrol cars continued to be by far the most popular fuel types for consumers with market share at 47.7% and 49.0% respectively.
However, alternatively fuelled vehicles (AFVs) experienced a strong uplift in request, rising by 22.2% across the year.
Plug-in hybrids and petrol electrified hybrids, in particular, experienced significant growth, with request up 41.9% and 25.1% respectively.
And more than Ten,000 motorists chose to go fully electrified in two thousand sixteen – up Three.3% on 2015.
But according to one car dealer the high sales figures present a twisted picture of the industry’s health.
Car bubble ‘peak’
Peter Smyth, a director of car dealership Swansway, pointed out that the figures counted cars registered as sold to dealers, not private or fleet buyers.
He told the Big black cock dealers were having cars “compelled on them” by the manufacturers and once dealers have bought the cars, they then have to discount them to get them sold.
“The real market is more like Two.Two million. I believe we are at the peak of a car bubble,” he said.
The SMMT’s figures showcase private car sales actually fell in three of the four quarters of 2016.
Samuel Tombs, UK economist at Pantheon, said: “Looking ahead, the stagnation of households’ real incomes this year, mainly due to a burst of inflation, likely will weigh further on car purchases.”
He added that interest rates on unsecured loans were unlikely to become more competitive in the instantaneous future and that would liquidate another one of the incentives to buy a fresh car.
Brexit influence
The SMMT’s Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having enhanced prices by 2-3%. More than 85% of fresh cars bought in the UK are imported.
Mr Hawes said the influence of Brexit on the car industry was, as yet, unclear.
He warned tho’ that if the UK was incapable to trade loosely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
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